Bambuk Exploration & Development

Bambuk is a BVI registered exploration and development company focussing on west and central Africa. Founded by Dr Jon Forster and Craig Banfield, it will operate as Toro Gold's exploration and development arm in its designated African region.

Toro Gold has the exclusive right to invest up to US$10m in Bambuk for an 80% equity holding - the balance of the equity will be held by the Forban Trust for the benefit of the Bambuk management team

Upon the US $10m investment threshold being reached, the Forban Trust will be able to participate in future equity placements or dilute as appropriate

Toro Gold has the option to secure late stage projects on market terms from Bambuk for development while it maintains +40% shareholding in Bambuk

Toro Gold and Bambuk management will work via an Investment Committee to assess all investment, development and divestment opportunities within Bambuk

The Bambuk and Toro Gold teams work in close unison to identify, secure and develop gold projects to the mutual benefit of both companies

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